JLL Sees 'Green Shoots' Despite 64% Loss In Income JLL posted a net loss in 2023 as heightened borrowing costs spurred a pullback in transaction activity, but executives say better days are coming, with buyers emerging as interest rates and prices stabilize. The Chicago-based brokerage saw its net income decline by 64% to $225.4M for the full year, even as fourth-quarter revenue grew by 4% to $5.9B, according to its fourth-quarter earnings report. Fee revenue dipped 2% for the quarter and 11% for the year, in large part due to slower leasing activity. 
The bid-ask spread narrowed amid a slowdown in interest rate hikes, prompting a slight uptick in transactions that should gain momentum in the latter half of the year, JLL CEO Christian Ulbrich said during the… Read the full story here. | 
